ECONOMICS - YARDENI: The Interest Rate Spike Is Forcing A Correction In Stock Market Valuation Multiples

That's quite a worry list that piled up last week. It's remarkable that the S&P 500 didn't fall more than 2.1% last week. And so far, it is down just 4.6% from its May 21 record high. This decline is attributable to the drop in the S&P 500's forward P/E from 14.4 on May 21 to 13.6 on Friday. S&P 500 forward earnings is actually at a record high. How much more downside might there be in the valuation multiple? It depends on how much h ...

http://www.businessinsider.com/yardeni-rates-higher-stocks-fall-furthe